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Jan 4, 2013 4:00am PST
by the senate to help the northeast recover from superstorm sandy, the most destructive storm of 2012. today, however, the new congress is expected to vote on $9 million for immediate aid, with the $51-million balance scheduled for a vote january 15th. consumers' fears of falling off the fiscal cliff along with deep discounts are expected to hurt 4th quarter profits for several major retailers. jc penney, target and khol's all warned 4th quarter earnings may come in below expectations because of larger-than-expected markdowns. meanwhile, for the month of december, major retail chains collectively posted a 4.5% increase in sales for the month, which was higher than analysts' expectations of 3.3%. costco was the top performer, wtih a 9% bump in sales. nordstrom reported an 8.6% rise, while ross stores and tj max sales were up 6%. automakers were in high gear last year with over 14 million in sales. 2013 was the strongest year since before the recession, with the big three automakers all gaining ground in december. chrysler topped the list with a 10% rise in sales, while gm's grew nearly 5%. f
Jan 7, 2013 4:00am PST
long. no sooner did northeast republicans excoriate their brethern in congress for not passing a sandy storm relief bill than the house turned around and passed the bill. the near $10-billion measure was quickly passed in the house on friday and cleared the senate by unanimous consent. the 67 who voted no were all republicans. they had insisted that the aid be paid for by cuts in other federal programs. this was the first and least controversal part of a larger aid package to be considered in a couple of weeks. the fda is setting forth new rules that put the onus for food safety on food producers. about 3,000 americans die each year due to food-borne illnesses, and the new rules aim to make food processors and farms more accountable for reducing that number. companies will have to establish specific plans for preventing contamination as well as keep records that show they are doing so. the new rules are a result of the food safety and modernization act that was signed into law in 2011. still to come, more people are finding jobs. is it time to book a vacation? we'll give you some value
Jan 11, 2013 4:00am PST
. this is in response to the killing of 20 first graders and 6 adults at sandy hook elementry in newtown, connecticut, last month. gun manufacturers make up roughly $12 million in the teacher retirement portfolio. the lull that hit the motorcycle industry during the recession appears to be over. sales of the bikes rose in 2012 for the first time since 2006. bmw had a stellar year, with overall motorcycle sales rising 2%. studies suggest that more women and younger buyers are lured to head out on the highway. a decade ago, boomers outnumbered gen-x and gen-y riders four-to-one. gm is shifting away from outsourcing. according to reports, the automaker wants to rely more on its own employees for tech projects versus outsourcing jobs. and it will hire around 10,000 workers for tech centers in michigan, texas and georgia and one other yet- to-be-revealed location. meanwhile, general motors predicts a modest increase in u.s. market share this year, along with reducing its losses in europe. honda is also adding jobs in the u.s. and investing $23 million into an ohio plant where it will manufacture a new hyb
Jan 8, 2013 4:00am PST
. lawmakers in d.c. have approved $9 billion of aid for areas devatstated by hurricane sandy, with a potential $51 billion more on the way. ed gjertsen, vp of mack investment securities, joins us with this morning with the economic punch, and how it could help stocks. good morning. and hopefully, some good will come from this tragedy. what do you anticipate? > > angie, i really don't see a lot coming out of this. it's $9 billion. it's basically going to be going more into the infrastructure of just paying the fema bills for the flood insurance. if that additional $50 billion comes, there's a lot of pork in that. i don't see that being a direct, relative basis for stock. so i don't see a big lift from that money going into the east coast. > would you buy any remodeling stocks, such as home depot? > > i know think so. the money is going to be spread around in so many different places, i think there might be a short- term benefit from that, but i think overall economic growth will have a lot more powerful impact with stocks than another congressional outlet. > ed, thank you for your thoughts toda
Search Results 0 to 3 of about 4